The mobile transactional banking service launched in May this year and is available to everyone, even those without bank accounts.
It's a mobile wallet that allows customers to deposit, withdraw or send money as well as buy groceries at any till point in all Shoprite, Checkers, Checkers Hyper and Usave stores. Customers can also send money and buy electricity or airtime, provided they have funds in their Shoprite Money account.
Shoprite says that the service has attracted more than 100,000 registered account holders since it launched.
Shoprite Money is assisting businesses with their payroll needs and giving employees easier access to their salaries. All transactions are free with the exception of a R9.95 fee that only applies to cash withdrawals. The Shoprite Group absorbs all other costs.
Businesses using the service have a transfer limit of R5,000 per employee per day. The monthly limit is R25,000 per receiver of the money. However, there is no limit on the total file value.
To register:
● Send an email to srmsupport@shoprite.co.za with Bulk Disbursements in the subject line, and include your company details or apply here.
● Shoprite will send you an email with its banking details and a file to complete listing the multiple recipients.
● Once your payment is reflected, Shoprite will disburse the funds to all the recipients’ wallets.
● Each recipient will receive an SMS notifying them that money has been sent to them via Shoprite Money.
For recipients to register:
● Shoprite Money is available to anyone aged 18 years and older with a valid SA ID document and an active cell phone number irrespective of their mobile network, device or connectivity.
● Users can register for an account free-of-charge by dialing *134*3534# or by visiting the Money Market counter in any Shoprite, Checkers, Checkers Hyper or Usave store.
● The money will be deposited into the recipient’s Shoprite Money wallet and can be cashed out at any of the above stores.
